Notice 2018-64 proposes a revenue procedure that provides guidance on methods for calculating W-2 wages for purposes of section 199A of the Internal Revenue Code (Code) and proposed §§ 1.199A-1 through -6 of the Income Tax Regulations (26 CFR part 1) which are being published contemporaneously. Specifically, this notice provides methods for calculating W-2 wages (1) for purposes of section 199A(b)(2) which, for certain taxpayers, provides a limitation, based on W-2 wages, to the amount of the deduction qualified business income under section 199A; and (2) for purposes of section 199A(b)(7), which, for certain specified agricultural and horticultural cooperative patrons, provides a reduction to the section 199A(a) deduction based on W-2 wages.
The notice will appear in IRB 2018-34 dated Aug. 27, 2018.
The rehabilitation tax credit offers an incentive for owners to renovate and restore old or historic buildings. Tax reform legislation passed in December 2017 changed when the credit is claimed and provides ...
Hurricane Michael victims in parts of Florida and elsewhere have until Feb. 28, 2019, to file certain individual and business tax returns and make certain tax payments, the Internal Revenue Service announced ...
The Internal Revenue Service issued guidance today on the business expense deduction for meals and entertainment following law changes in the Tax Cuts and Jobs Act (TCJA).
The 2017 TCJA eliminated the ...
1330 Braddock Place, Suite 540
Alexandria, VA 22314
For Advertisers and Sponsors
Find A Professional
NSA Scholarship Foundation
Affiliated State Organizations
Accreditation Council for Accountancy and Taxation (ACAT)